Platinum price formed a bullish wave during yesterday’s trading, targeting the $1,670.00 level, while maintaining its negative stability below the additional resistance barrier at $1,690.00. This confirms the price’s adherence to the bearish corrective scenario. Therefore, we emphasize the importance of gathering negative momentum during the current trading sessions, which would facilitate the move toward the initial corrective targets at $1,550.00 and $1,515.00, respectively.

 

However, if the price comes under renewed positive pressure and breaks above the $1,690.00 level, it would force the bearish attack to be postponed, giving the price an opportunity to achieve further intraday gains by moving toward $1,730.00, followed by the key resistance barrier near $1,790.00.

 

 

The expected trading range for today is between $1550.00 and $1680.00

 

Trend forecast: Bearish